Nestle to build new plant-based food facility in China under $100 million investment plan

(Reuters) - Food giant Nestle said on Wednesday it would spend 100 million swiss francs (£84.47 million) on expanding its manufacturing footprint in China to include a new plant-based food facility and widen its production lines. The company said its first plant-based food facility for Asia would be built in Tianjin Economic-Technological Development Area (TEDA) and that it could launch faux meat products by the end of this year.Chinese consumers have been steadily shifting to plant-based..